5Loom’s 3X5 Sessions Event Recap

In this recap blog post, we’re going to readdress some of the questions and concepts that were discussed by our founder Chad Wittman at the 5Loom 3X5 event in New York City.

Chad is in the middle [Photo by 5Loom]

EdgeRank Checker was represented by founder Chad Wittman at 5Loom‘s first annual 3X5 Sessions, hosted at the Tribeca Grand Hotel. EdgeRank Checker took part of the day’s first session, Facebook Power Hour. Panelists included Chad Wittman from EdgeRank Checker, Michael Jaindl from Buddy Media, John Battaglia from Wildfire and Christine Pierpoint from IMRE. The Facebook Power Hour was an excellent balance of unique perspectives from some of the most innovative social media companies looking at the future of Facebook marketing.

EdgeRank / GraphRank
There seems to be a slight misconception with the terminology of EdgeRank and GraphRank. EdgeRank was first revealed at f8 2010 as an algorithm that determines what is displayed, and how high, on the news feed. GraphRank, which was revealed at f8 2011, is an algorithm that determines which apps receive exposure to potentially interested users. For a more thorough explanation of EdgeRank, check out our detailed explanation: What is EdgeRank? For an explanation of GraphRank, check out our popular blog post: What is GraphRank?

Currently, GraphRank is a subset of EdgeRank. What does this mean for a brand? It depends. A vast majority of brands publish their content via their fan pages, which means their content is only governed by EdgeRank. Brands that have developed deeply integrated applications that publish to the news feed (think Spotify, social readers) on the behalf of the user, will be competing with GraphRank. GraphRank provides an opportunity for these brands to gain additional exposure to more users.

In conclusion, nearly all brands need to be focused on EdgeRank. The brands that are able to deliver high quality applications need to understand GraphRank.

Future of Mobile
Mobile is obviously a huge opportunity for Facebook moving forward. Facebook recently enables marketers to advertise within the mobile news feed. This is a huge opportunity for both marketers and Facebook. Geotargeted Sponsored Stories that tie together both affinity relationships, and location information, are immense opportunities for Facebook to extend its mobile reach. Facebook will continue to pursue this heavily.

Facebook seems determined to fully intertwine both earned media, and paid media, into one seamless experience for the end user. They are in a unique opportunity to provide this solution like ever before. Imagine Sponsored Stories targeted based on a user’s affinity with a brand, their affinity with a location, and then using their OpenGraph information to tailor Paid Media to catch their interest. We’re talking about a whole new ecosystem of advertising!

Paid Media + Earned Media
The future of Facebook marketing will be executing an intelligent approach to integrating Paid Media and Earned Media strategies. Brands that begin to understand this relationship, and how to leverage it, will be able to achieve great results. It’s our vision with EdgeRank Checker to aid marketers with the opportunity to maximize their Organic Reach (and Earned Media) then identify the best case situations to apply Paid Media.

Future of Facebook
We’re very excited about the opportunities that Facebook has to achieve even more marketing successes. The platform has reached an incredible amount of users, but that’s only the beginning. The next stage of integrating users interests and activities, into targeted advertisements, begins a new era of marketing. Assuming the Facebook structure remains the same, the news feed will be where true marketing will take place. We strive to help brands understand the news feed better than anyone else—and look for our role to expand in this sector.

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